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2022 (9) TMI 463 - AT - Income TaxDeposit of cash in credit card account and salary earned by the assessee and the interest earned from bank - HELD THAT:- The source of the deposit in cash was from salary. Neither the assessing authority nor the appellate authority had made any verification related to deposit of cash and related to earning of salary. None of the revenue authorities made any verification to employer, or bank or credit card authority related to those transactions of assessee. The entire addition was made on the basis of the AIR DATA. For ascertaining the total income mere verification is required by the revenue authorities. Further the assessment was made u/s. 144. Even the CIT(A) did not take any cognizance to complete the proceeding to allow the opportunity to AO to complete the verification. The entire addition was on basis of assumption & presumption. Accordingly, the order of the CIT(A) is setting aside. The matter is remanded back to Ld. CIT(A) for further adjudication.The evidence/explanations submitted by assessee in its defense shall be admitted by CIT(A), and adjudicated by CIT(A) on merits in accordance with law. Appeal of assessee allowed for statistical purposes.
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